Stochastic Multicriteria Acceptability Analysis – Matching (SMAA-M)

Abstract

The present work introduces Stochastic Multicriteria Acceptability Analysis – Matching (SMAA-M), a MCDM technique which, just as former SMAA versions, has been designed for public decision environments. SMMA-M is specifically intended to support the choice for one or more alternatives among a finite set of them, when this decision is based on a theoretical model or reference system. The present version introduces the notion of value range of the decision alternatives, a mathematical concept that allows modelling the system. The decision process is supported on the degree of matching between the input and output states of the system. After featuring the system through criteria, the technique allows obtaining the set of weights that support each alternative's value range and favourable criterion weight indicators. In order to illustrate this new development, the present work searches for the governance forms that minimize the transaction costs of a supply chain's major echelon.

Keywords

• Decision making process
• Multicriteria
• Stochastic multicriteria acceptability analysis - SMAA